NVE's Fiscal Second-Quarter Revenue Falls 8%

The Tip Desk · November 8, 2026 · 2 min read

The spintronics maker posted $5.83 million of revenue and $0.65 a share, reversing the first quarter's 81% year-over-year revenue increase.

NVE Corporation (NVEC), a spintronics sensor and coupler manufacturer, reported second-quarter fiscal 2027 revenue of $5.83 million, down 8% from $6.35 million a year earlier, reversing the 81% year-over-year increase to $11.0 million recorded in the first quarter of the fiscal year.

Product sales, the bulk of the business, fell 9% to $5.58 million from $6.14 million in the year-ago quarter. Contract research and development revenue rose 25% to $259,420 from $208,220, partially offsetting the product decline.

Net income decreased 4% to $3.17 million, or $0.65 a share, from $3.31 million, or $0.68 a share, a year earlier.

Gross profit declined to $4.56 million from $4.97 million. Income from operations fell to $3.21 million from $3.66 million. Selling, general, and administrative expense increased to $630,314 from $436,919. Research and development expense decreased to $727,345 from $873,470. Interest income was $474,727. The provision for income taxes was $507,806.

President and Chief Executive Officer Peter G. Eames, PhD, said the company was pleased to report a 36% increase in revenue for the six months ended September 30, 2026, compared with the prior-year period, despite the 8% decrease in second-quarter revenue versus the year-ago quarter. For the first six months of fiscal 2027, total revenue increased 36% to $16.9 million from $12.5 million. Product sales rose 35% and contract research and development revenue rose 38% over that six-month span. Net income for the first half increased 39% to $9.57 million, or $1.97 a share, from $6.89 million, or $1.42 a share.

The company announced a quarterly cash dividend of $1.00 a share, payable November 30, 2026, to shareholders of record as of November 2, 2026, matching the dividend announced with first-quarter results.

Cash and cash equivalents were $3.97 million at September 30, 2026. Short-term marketable securities were $19.68 million and long-term marketable securities were $20.74 million. Inventories were $6.86 million. Total assets were $59.86 million. Shareholders’ equity was $57.98 million.